On May 30, we asked Nezha Auto for confirmation of the recent reports of the removal of the Shanghai headquarters logo, the failure of the "debt-for-equity" plan, and the motion by state-owned shareholders to remove Fang Yunzhou, the founder, chairman and CEO of Nezha Auto, and generally received a negative answer. Regarding the "failure of the debt-for-equity plan", it was reported that Nezha Auto owed suppliers a total of about 6 billion yuan. On March 25, Nezha Auto had reached a debt-for-equity agreement with more than 100 suppliers for more than 2 billion yuan. The investor was originally required to resolve half of the debt, or 3 billion yuan, before it was willing to provide new funds. In this regard, the above-mentioned brand person said: "The debt-for-equity plan has no KPI. This is a plan for the company to save itself and does not involve anything else." As for the state-owned investor shareholder of Nezha Auto's parent company Hezhong New Energy Automobile, who was brewing a motion to convene a board of directors to remove Fang Yunzhou, the person responded: "It does not exist. The state-owned shareholders are saving the company with us." In terms of financing, "it has actually never stopped, but there has been no further progress."